Page 34 - Saginaw FY19 Annual Budget

CITY OF SAGINAW

BUDGET HIGHLIGHTS
2018-2019

 Beautification funding will be used for a plan update ($30,000) and for City signage
($40,000) on the Ardent Mills silo.

GENERAL ESCROW FUND

 The General Government Escrow Fund was created in FY 2014-2015 to better track
funds that are received and to be used for a specific purpose. The types of revenues
budgeted in this fund are: hotel/motel tax, court technology fees, court security fees, gas
production proceeds, and insurance deductibles and settlements.

 The equipment replacement for the General Fund will be accounted for in the General
Escrow Fund. The equipment replacement escrow will begin in FY18/19. The annual
contribution will be based on the useful life of the purchased asset and the estimated
replacement cost. Funding for the replacement of equipment purchased beginning in
FY18/19 will be in the equipment replacement escrow, as long as the annual
contribution is made. The contribution for General Fund equipment in FY18/19 will be
$28,905.

 Revenues are budgeted at $120,915.

 Budgeted expenditures include the Chamber of Commerce support ($5,000), a
contribution to revive the “Train and Grain” festival ($10,000), a transfer to the General
Fund for court security (Bailiff $5,000), the replacement of four hand held ticket writers
($14,000), and insurance deductibles/repairs ($40,000).

WATER/WASTEWATER ESCROW FUND

 The Water/Wastewater Escrow Fund was created in FY 2014-2015 to better track funds
that are received and to be used for a specific purpose. The types of revenues
budgeted in this fund include water and wastewater impact fees.

 The equipment replacement for the Enterprise Fund will be accounted for in the
Enterprise Escrow Fund. The equipment replacement escrow will begin in FY18/19.
The annual contribution will be based on the useful life of the purchased asset and the
estimated replacement cost. Funding for the replacement of equipment purchased
beginning in FY18/19 will be in the equipment replacement escrow, as long as the
annual contribution is made. The contribution for Enterprise Fund equipment in
FY18/19 will be $14,485.

 $155,000 in water impact fees will be transferred to the Enterprise Fund for the design
of Saginaw Boulevard 16” water line phase 2 project.

34